CI Financial (TSE:CIX) Reaches New 12-Month High Following Analyst Upgrade

CI Financial Corp. (TSE:CIX)’s stock price reached a new 52-week high during trading on Tuesday after CIBC raised their price target on the stock from C$23.00 to C$32.00. The company traded as high as C$31.41 and last traded at C$31.22, with a volume of 5734430 shares traded. The stock had previously closed at C$24.01.

Several other analysts have also commented on CIX. Jefferies Financial Group lifted their price objective on CI Financial from C$20.00 to C$27.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Raymond James raised their target price on CI Financial from C$27.00 to C$32.00 in a research report on Tuesday. BMO Capital Markets upped their price target on shares of CI Financial from C$22.00 to C$25.00 in a research report on Friday, November 15th. TD Securities cut shares of CI Financial from a “buy” rating to a “sell” rating and increased their price objective for the stock from C$28.00 to C$32.00 in a research note on Tuesday. Finally, Keefe, Bruyette & Woods lowered shares of CI Financial from an “outperform” rating to a “market perform” rating and boosted their target price for the company from C$28.00 to C$31.50 in a research report on Tuesday. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$27.94.

CI Financial Trading Up 0.3 %

The stock has a market capitalization of C$4.39 billion, a PE ratio of -115.19, a PEG ratio of 0.04 and a beta of 1.67. The stock’s 50 day moving average price is C$21.63 and its 200-day moving average price is C$17.70. The company has a quick ratio of 0.17, a current ratio of 0.34 and a debt-to-equity ratio of 577.47.

About CI Financial

CI Financial Corp. is a publicly owned asset management holding company. Through its subsidiaries, the firm manages separate client focused equity, fixed income, and alternative investments portfolios. It also manages mutual funds, hedge funds, and fund of funds for its clients through its subsidiaries.